- Cardano performed a sideways momentum on Monday’s trading session
- ADA price is $0.3521, which is down by 1.15% in last 24-hour time-frame and 1.42% down from the previous week
- ADA/BTC pair is negative with a loss of 0.86% in Monday’s trading session (0.00001031)
Cardano had negative momentum on the weekly chart, and it went up to $0.3954 on January 18, 2021, while breaking above the resistance zones created in the past. ADA price set a mark of a 52-week high. Meanwhile, the trading volume of $2,528,498,048.88 in the last 24-hour time-frame represents a decreasing value of 16.79%. The ADA/ETH pair is in an uptrend with a value of (0.00026391) which is up by 0.38% in Monday’s trading session.
Cardano Technical Chart Indicates a Negative Momentum
The technical chart of Cardano highlights a negative trend. In contrast, the ADA price is at $0.3521. According to pivot points, the key support level for ADA is placed at $0.3144. If it moves up, the key resistance level to watch is $0.3700. While diving into the weekly chart of 15-minute time frame, it completed a dark cloud cover candlestick pattern, indicating the bears have overwhelmed the bulls and are now in control.
Volume indicator with the value (1.499M) reflects a selling volume in coin. One can further expect a decrease in selling volume in the upcoming trading sessions.
SMA-200, price is at $0.3501, which acts as another strong support in the coin. The price is testing the SMA, and investors can expect a bearish trend in the coin if it breaches below the SMA.
MACD indicator (Bearish), no bullish crossover signal line spotted on February 01, 2021, indicated a sell signal in the coin during the trading session. Also, it denotes the ending of red bars on Histogram.
Meanwhile, the RSI indicator (Bullish) with a value of 54.36 indicates a buy signal in the coin. One can observe a decrease in value in upcoming trading sessions.
ADA price is down by 1.15% on Monday’s trading session. The price is testing the SMA of $0.3501. Investors can see the price struggling between resistance and support. All technical indicators suggest a neutral signal in the coin.
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